Home Top Movers Is This The Reason Behind The SCKT Stock Price Rising After-Hours?

Is This The Reason Behind The SCKT Stock Price Rising After-Hours?

During after-market trading, Socket Mobile Inc. (NASDAQ: SCKT) shares were up 9.99%, trading at $7.6. Socket stock appreciated by 6.31% to close Wednesday’s session at $6.91. The volume of SCKT stock remained at 0.19 million shares, which was much less than the average daily volume of 6.02 million shares over the past 50 days. On hopes for better financials slated to be released today, SCKT stock rose in regular as well as extended sessions.

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How will it be scheduled?

Data capture and delivery solutions provider Socket Mobile is a leader in workforce mobility. Socket Mobile’s revenue is primarily driven by the deployment of third-party cordless barcode scanners and contactless readers/writers that incorporate Socket Mobile’s cordless barcode scanners.

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The specialty retail, field service, transportation, and manufacturing markets are the primary revenue generators for Mobile Applications. With SCKT’s software developer tools, thousands of developers develop mobile applications with sophisticated data collection capabilities.

Socket Mobile last week revealed that it will release results for its first quarter of 2021 at the close of markets on Thursday, April 22, 2021. An investor conference call to discuss these results will also be held by management at 5 p.m. Eastern Time (2 p.m. Pacific Time).

Wider Picture:

Even though the stock has been rising due to heightened investor sentiment before the release of its quarterly results, its performance could also provide a more precise picture.

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Over the last year, Socket Mobile (SCKT) shares have gained 457.26%, and over the past week, they have gone down -3.49%. A SCKT stock’s gains over the past six months have totaled 404.38%, while over the past three months they reached 157.84%. Moreover, SCKT currently has a market cap of $53.00 million but remains open for business with an outstanding share count of 6.08 million shares.

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